G20 finance ministers gather to tackle debt crisis

PanARMENIAN.Net - Finance ministers and central bankers from the world's top economies gathered in Paris on Friday, October 14, to strengthen the faltering global economy and protect ailing banks from Europe's ballooning debt crisis, AFP reports.

At a briefing ahead of a two-day meeting of G20 finance ministers, a French official said the top priority would be to tackle the eurozone financial crisis.

"The G20 is taking place in a context where the absolute priority is to find solutions to stabilize the eurozone," said the official, speaking on condition of anonymity.

The eurozone is "the epicenter of the global crisis," the official said, adding: "If we cannot stabilize the eurozone, we will face problems in the months to come."

The Paris meeting comes as eurozone leaders race to finalize a response to the bloc's debt crisis, with plans to shore up banks threatened by the debt troubles plaguing the single currency area.